SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Assets 2017 2018 Current liabilities $ 35,185 $ 38,572 18,201 28,486 3,850 42,952 $ 57,236 $ 110,010 $465,125 $520,833 $522,361 $630,843 SMOLIRA GOLF CORP. 2018 Income Statement Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (23%) Net income Dividends Retained earnings $27,000 36,433 $510,454 362,128 45,463 $102,863 20,483 $ 82,380 18,947 $ 63,433 Liabilities and Owners' Equity 2017 2018 $ 38,042 $ 42,982 19,808 16,800 20,584 25,274 $ 78,434 $ 85,056 $ 119,000 $ 184,427 $ 55,800 $ 55,800 269,127 305,560 $324,927 $361,360 $522,361 $630,843 Accounts payable Notes payable Other Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners equity Prepare the 2018 statement of cash flows for Smolira Golf Corp. (Negative answers should be indicated by a minus sign.) SMOLIRA GOLF CORP. Statement of Cash Flows For 2018 Cash, beginning of the year 35,185 Operating activities Net income Add: Depreciation Add: Increase in accounts payable Add: Increase in other current liabilities Less: Increase in accounts receivable Less. Increase in inventory. Net cash from operating activities Investment activities Net cash from investment activities Financing activities Net cash from financing activities Cash, end of year $